this post was submitted on 14 Jul 2023
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What's needed:
What will be done:
Making rent increases match inflation is gonna make rent much higher.
You misunderstand. It's not a mandatory increase, it's a maximum allowable increase.
Oh I think you misunderstand. The maximum allowable is going to be the increase every year. Been there experienced that on both sides of the fence.
Don't asshole landlords increase the rent constantly at much higher rates anyway? Just the other day, I saw someone say their rent was going up by 20%.
In any case, the maximum could be set at a fraction of inflation.
You missed the part where they subsequently contacted the RTB and the increase was illegal.
If people want anywhere to live, rent need to keep pace with inflation, otherwise landlords will just sell the property to the next wealthy homebuyer leaving normal people out in the cold (or heat as the case may be).
There are plenty of Canadians wealthy enough to purchase homes in the $1-2 million range before it ever got cheap enough for people just making ends meet.
But you’re right, nothing will ever get done. It’s just the way it is. People who want homes better move to smaller population centres and come back once their careers and wages can afford living here.